A business budget is an essential document for analysing your business expenses and making decisions. Creating a business budget will also help you manage your cash flow and keep on track when unexpected expenses arise. To make this happen, let’s look at the steps you can take to create your business budget.
SME, meaning small-to-medium enterprise, is a term used to describe a range of businesses based on the number of employees or annual turnover. These enterprises represent the vast majority of businesses in Australia, employ millions of people, and are the engine of the economy, responsible for 55 per cent of GDP. But what’s the definition of SME? Here we look at small-to-medium-sized enterprises, how they are defined in Australia, and their economic impact.
Asynchronous communication is a concept that has increased in importance with the growth of remote work and online communication. While you might already be using this form of communication in your business, understanding the options and implications can help you choose how and when to communicate asynchronously. Here we consider the basics of how teams communicate and ways this can be improved.
Artificial intelligence for small business is making a big impact. While large organisations have more resources to implement AI business solutions, small businesses are also leveraging it to increase efficiency and boost growth. Here we start by defining artificial intelligence and looking at a few of the ways you can use AI in your business.
Now more than ever as we struggle through the COVID-19 pandemic, and with recent incidences of wage theft in the news, it’s important to be aware of the regulations about minimum wage employees. But what is the minimum wage in Australia? Who decides it, and what can you do as an employer to help those working in minimum wage roles? Here’s a short guide to the Australian minimum wage.
Managing employee expectations is a key function of business owners and managers. Staff members who have clearly defined roles and know what to expect are more likely to be satisfied with their work, stay in their jobs longer. Here are a few tips for setting and managing expectations to improve employee engagement and performance.